WOW! Day 2 at SXSW has been fantastic. We have had the opportunity to meet with quite a few new companies, and some of the old guard that have begun to re-invent themselves to stay relevant in this always-on, hyper media industry. We will be producing another daily diary later today. Upcoming is the People Power party, hosted by Moo, Etsy, Timbuk2 and Threadless. This will be a great opportunity to meet with some of the leading companies that really learned how to harness the power of the communities in order to become a distributive force in their respective industries.

We were also added to the guest list for the socialthing gathering later tonight, and received an invite code to their closed beta. For that have yet to hear about them, socialthing is a connector and a transit layer for all of your social applications and tools. In short, it connects your Facebook with your meebo, with your Flickr with your twitter. Word on the street is that they will be the breakout product of SXSWi. We will keep you posted on our experience with them.

Also on tap for this week is chats with Kyte.tv, Zappos, and a slew of other companies that understand that the value of the community based conversation, and how to really impact their revenue, product design and customer acquisition using social media tools and methods.